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Disney sells KCAL-TV

Published on May 14, 1996.

Young Broadcasting has agreed to acquire KCAL-TV, independent VHF station (Channel 9) in Los Angeles from Walt Disney Co. for $385 million. The Federal Communications Commission ordered Disney to sell the station as a condition to its approval of Disney's acquisition of Capital Cities/ABC. The deal with Young is subject to FCC approval. Chairman-CEO Vincent Young said, " KCAL-TV will more than double the overall reach of our station group from 4.1% to 9.3% of the U.S., and increase revenues by 40%." Young currently owns 10 TV stations.